ASX: Launches ‘DLT Solutions’ team

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ASX: Launches ‘DLT Solutions’ team

ASX: the operator of the Australian Securities Exchange, launches ‘DLT Solutions’ team

  • The team also use its experience of implementing blockchain-inspired distributed ledger technology to help its customers
  • ASX is in the process of rolling out a DLT-based system to replace CHESS
  • Clearing House Electronic Subregister System(CHESS) originally implemented in 1994
  • CHESS also provides clearing, settlement, and asset registration services for market participants
  • The CHESS replacement, which expected to go live in 2021, is based on DLT software
  • The new system also help cut costs and reduce the potential for errors, giving market participants the option of running a DLT node